Asia / Oceania
Anhui Conch plans US$400m plant for South Kalimantan
Mar, 19 2012
(Indonesia) -- Chinese cement giant Anhui Conch Cement plans to begin construction of a plant in South Kalimantan later in 2012, with an anticipated investment of US$400m.
"The planned plant in South Kalimantan will be able to produce 2.5Mt/yr," announced Industry Minister MS Hidayat as he met with a business delegation from China's Anhui province at the ministry's office. The output will be used for domestic purposes.
Anhui Conch Cement is currently awaiting the completion of its land acquisition process and a license to be issued by the South Kalimantan administration so that the plant can be built in Tanjung, Tabalong. The plant will be equipped with a cement-grinding plant, a seaport, a 60MW power plant and other supporting infrastructure.
Hidayat added that Anhui Conch Cement is also preparing to acquire land in Manokwari, West Papua, in 2013 for another cement plant that would require US$400m. It is expected to meet cement demands in the surrounding areas.
Aditya Birla Group has placed bids for the Brazilian and Philippine cement assets that global giants Holcim and Lafarge are planning to sell ahead of their merger in order to comply with anti-competition rules, reports the Times of India. More
Houston-based Halliburton, the oil field service company with the largest US fleet of hydraulic fracturing equipment, posted a 70% boost in profit in the third quarter, the company reported Monday. More